Big Data, Analytica and Artificial Intelligence technologies are the focus for 2020 and undoubtedly a crucial element for organizations’ digital transformation in the upcoming years.
Successive technological advances in the last ten years have led to major changes in the activities, strategies and business models. In this context, digital has become an integral part of organizations daily routine and increasingly contributes to their success, which is an unavoidable reality.
As a result, there was a clear evolution of Business Intelligence and traditional Analytics, data volume increased surprisingly, more Cloud systems were adopted, and actionable data visualizations and interactive Dashboards also gained higher expression.
In a world marked by an ever-increasing pace of change, constant uncertainty, and where technology is becoming increasingly intelligent, organizations have a clear mission to define transformation strategies and process implementation to become more innovative and competitive.
Faced with this awareness, the areas of Analytics and Big Data have undergone profound growth and rapid evolution as a result of their potential for management transformation through data relevant to informed decision-making, in real-time.
According to IDC, more than 50% of national organizations already use Business Intelligence and Business Analytics tools. Still, the adoption f Big Data and Artificial Intelligence solutions have lower adoption rates, respectively 35% and 18%.
However, IDC predicts that within two years, 50% of organizations will sell data and information and adopt a Data-as-a-Service concept. It is important to note that organizations that currently use these services are not only the traditional organizations that sell information but are also increasingly the financial or telecommunications organizations that are starting to sell data, information or insights.
Although there is still a long way to go, several organizations are already betting on a data-driven strategy. Data is growing at an unprecedented rate, and the Internet of Things (IoT), which encompasses smart, connected products, is one of the contributing key factors to this exponential increase of data. This happens because devices such as mobile phones and smartwatches are continually collecting data, connecting to other devices and sharing the gathered data.
According to Gartner, by 2025, 80% of consumer or industrial products that use electronics can do device analytics. Data is, in this digital economy age, the most valuable asset for organizations, and only those who can quickly gather, analyse and act on them, will have competitive advantages.
Organizations’ willingness to improve data-driven decision-making is allowing them to add Machine Learning to available technology. In compliance with Gartner, by 2022, 40% of Machine Learning model development and scoring will be done on products that are not primarily intended for Machine Learning.
On the other hand, the maturation of Data Analytics solutions enables organizations to move more complex and value-added usage scenarios, in a logic of accelerating change in organizations from increasingly current, relevant and analytical information. The Portuguese market has been showing signs of increasing receptivity to projects in this area, but also in the area of Artificial Intelligence.
Another equally important trend towards the start of the new year will be Security using Artificial Intelligence, a new generation of cybercrime defence, as computer hazards increase in volume and complexity, according to Gartner.
Therefore, Digital Transformation is an important factor for which organizations need to devote maximum attention today to be more competitive tomorrow.
Opinion article published in Jornal Económico – 23rd, January, 2020